'Uco Bank conducted a conference call on 21 October 2024 to discuss the financial results for the quarter ended September 2024. Ashwani Kumar, MD & CEO of the company addressed the call:
Highlights:
The bank has recorded 13.56% growth in business volumes to Rs 473704 crore, driven by 18% surge in the advances and 10.57% growth in deposits.
The retail agriculture and MSME (RAM) loan book of the bank has increased 20%, with retail on book rising 29.36% driven by home loans and vehicle loan segment. The agriculture loan book has jumped 17.41% end September 2024.
The gold book of the bank has touched Rs 8000 crore end September 2024.
The net interest margin has increased to 3.1% in Q2 from 2.84% in Q2 last year. NIM for H1 was at 3.09% as against 2.92% in H1 last year. An improvement in NIM was given by 52 bps jump in yield on advances, as against 32 bps rise cost of deposit.
The bank had guided at deposit growth of 8 to 10%, Casa ...
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